Our money mindset is what shapes our beliefs, attitudes, values and habits around money. We all have these, and they’re different for each individual. Words like miser (someone who hoards their wealth) and spendthrift (who splurges more than they should) are shaped by these attitudes.  

Crucially, your money mindset isn’t to do with how much money you earn, save or spend. It’s not to do with tedious budgets. Those aren’t the foundations of success. It’s more about self-knowledge – understanding the financial triggers that influence your habits and decision-making.  

So before we even think about building the skills needed for financial wellbeing, we need to clear mental space, tackle financial anxiety and align our habits to our values and goals.  

Ignoring your money mindset doesn’t make it neutral. It shows up in your decisions, your stress levels and the choices you avoid, even if you are not paying attention. 

Plenty of people spend life waiting for that one event they’re sure will be the turning point.  

A pay rise. 
A smart investment. 
Finally “getting organised”. 
Buying a home. 
Even a lottery win. 

If you’ve ever pinned your financial hopes on one big moment, you are not alone.  

But that is not how financial wellbeing actually works. 

One good decision does not make you financially confident, just like one gym session does not make you fit. What matters is what you practice. 

Think of every money choice as a brick. Bricks are not glamorous. But put enough bricks together, you get a palace. 

Some of the money-choice ‘bricks’ we’re talking about here could include: 

• Checking a balance.  

• Asking a question.  

• Cancelling a subscription.  

• Saying no to something you cannot afford (yet).  

• Setting up an automatic transfer. 

No single brick matters much. But what matters is what you repeat. Those bricks become stability. Confidence. Options.  

Many people believe they need to feel 100% confident before taking action with money. In practice, confidence is usually built through action. 

Money can bring up strong emotions, history and assumptions. That’s real, and it matters. But at its core, money is still a tool. And tools don’t respond to feelings, they respond to use. 

If you’ve ever thought, “I’m not good with money,” pause. That isn’t a fixed trait. It’s a skill. And like any skill, it’s built through behaviour, not belief. Skills don’t appear after reflection, they appear after repetition. 

One of the fastest ways to build that skill is to borrow habits. 

Not from the loudest voices. 
Not from the richest people. 

From people who are calm, curious and consistent. 

They tend to: 

• Ask simple questions without embarrassment 

• Pay attention even when it feels boring 

• Make decisions carefully 

• Stay steady when circumstances change 

They aren’t perfect. They’re practiced. 

Action 

Think of one person you know whose finances seem calm rather than chaotic. 

Identify one behaviour you can copy in the next 14 days. 

A steady money person often: 

• Checks their bank balance or app on a set day each week 

• Opens bills immediately (possibly scheduling payments straight away) 

• Asks “what happens if I do nothing?” before making a decision 

• Uses automation for essentials like savings or bills 

• Makes one decision at a time instead of trying to fix everything 

• Keeps paperwork somewhere they can find it 

• Reviews super, insurance or subscriptions on a recurring schedule 

• Adjusts plans when income changes, rather than hoping it evens out 

Put a date in your calendar now, before moving on.  

You do not need to do all of these. One is enough. Confidence is built by doing. 

Financial wellbeing depends on fairness. Not to others, but to yourself over time. 

Being unfair to yourself often looks like: 

• Bending your own rules 

• Making exceptions that become habits 

• Telling yourself “I’ll fix it later” repeatedly 

Fairness means consistency.  

It also means disappointing your present self occasionally.  

If something matters, it matters every time, not only when it is easy. 

Rules help because they remove decision fatigue. One rule is enough to start changing behaviour. 

Action 

Choose one (or more) simple rule and apply it consistently. For example: 

• Any pay rise gets split before it is spent  

• I review my super once a year 

• I wait 24 hours before any unplanned purchase over $X 

• I increase super contributions when my income increases 

• If I do not understand it, I do not sign it yet 

You do not need to spend hours thinking about money. You need to show up regularly. 

Avoiding money because it feels technical or overwhelming creates more stress than paying attention a little at a time. 

Financial wellbeing rewards effort, not brilliance. Short, regular attention beats rare deep dives every time. 

Action 

Choose your recurring check-ins: 

Quarterly: review balances and spending patterns 
Yearly: review super, insurance, and beneficiaries 

Put it in your calendar now. No preparation required. If it isn’t scheduled, it often doesn’t happen. 

If something confuses you, write down one question and ask it. One question can be enough to create momentum. 

Financial wellbeing is not about being perfect. It is about practicing better habits, one brick at a time. 

You will make mistakes. Everyone does. What matters is whether you keep laying bricks anyway. 

• Pay attention. 

• Be fair to your future self. 

• Borrow good habits. 

• Keep going. 

Confidence follows action, not the other way around. 

Choose one brick today. Lay it before you close this page. 

Your money mindset is the set of beliefs, habits and emotional responses you have around money – often shaped long before you earn your first paycheque.  
It influences how you:  

• Spend, save and invest 

• Respond to financial stress 

• Make decisions under pressure 

• Feel about money conversations 

Importantly, your money mindset is not about how much money you actually have. Two people on the same income can have completely different financial outcomes based on how they think, feel and act around money.  

Money mindset isn’t fixed. It’s learned. And that means it can be practiced, adjusted and strengthened over time.  

There’s no single framework that fits everyone – money mindsets fall along a spectrum rather than into neat boxes.  

Some common patterns include:  

• Avoidant: Ignoring money because it feels overwhelming or stressful 

• Anxious: Constantly worrying about money, even when things are stable 

• Scarcity-focused: Feeling like there’s never enough, no matter what 

• Impulsive: Spending for relief, reward or reassurance 

• Steady: Calm, curious and consistent, without needing to be perfect 

Most people recognise themselves in one or more of these. And that’s normal. The goal isn’t to label yourself – it's to notice patterns so you can choose better habits going forward.  

Wealth isn’t built through one decision. It’s built through repeated behaviour.  

Your money mindset shapes:  

• Whether you pay attention or avoid 

• Whether you ask questions or stay silent 

• Whether you make decisions deliberately or reactively.  

A strong money mindset helps you: 

• Reduce financial anxiety 

• Stay consistent through change 

• Build confidence before you feel ‘ready’ 

• Make decisions that align with values and goals 

Over time, these small, steady behaviours compound – into stability, options and financial wellbeing. Mindset doesn’t replace action. It makes action sustainable.  

Sure you can! Your money mindset is not fixed. It’s shaped by your beliefs, experiences and habits, and you can absolutely shift it with intention and practice.  

Mindset experts and financial educators agree that recognising limiting beliefs about money is the first step – then you can begin to replace them with more empowering ones by taking small, consistent actions and reflecting on your habits and decisions. This can lead to healthier financial choices and more confidence over time.  

• Your money mindset influences decisions more than raw knowledge does 

• It can evolve as you practice new habits and challenge old beliefs.  

Feeling financial anxiety despite a ‘good’ income is normal – and it’s less about money and more about fear, emotion and mindset.  

Research in behavioural finance shows that emotions like fear, stress and avoidance can colour how we experience money. People can worry about future uncertainty, investing decisions, lifestyle expectations or even just thinking about money – regardless of earnings. 

A few reasons this happens:  

• Money triggers emotional responses (fear, shame, avoidance). 

• High cost of living or past experiences can override confidence in current income.  

• Worry often comes from perceived lack of control – not actual insufficient funds.   

Anxiety isn’t a flaw, it’s a signal. But with steady habits and mindset work, you can reduce it over time.  

There’s real data showing a confidence gap between women and men when it comes to financial decision-making. For example, Vanguard’s How Australia Retires survey found that only 33% of women felt ‘very’ or ‘extremely’ confident about financial decisions, compared with 50% of men.  

Factors behind this include:  

• Social norms and expectations: Long-standing cultural beliefs can encourage women to second-guess themselves or not trust their instincts.  

• Disproportionate caregiving and financial stress: Younger women report more stress and overwhelm around finances than men.  

• Lower perceived investing confidence: Not tied to actual ability, but to mindset and opportunity gaps.  

These confidence differences don’t affect ability. In fact, when women do invest or manage money, outcomes are often just as strong – or better – than men’s. The difference is self-belief and social conditioning, not competence. Girl, you got this.